MANY Malaysians feel that their family and loved ones will automatically inherit their property when they die.
However, under Malaysian law, if a person dies without a valid will, their assets will be frozen.
Family members then have to go through a long process to request a letter of administration in order to unlock the assets.
In the upcoming StarProperty.my 2018 forum titled âYour Ultimate Guide to Real Estate Investing and Property Protection,â Rockwills Corporation Sdn Bhd Senior Real Estate Planner Chong Mok Yong will discuss the importance and benefits of writing in his speech “The Importance of Writing a Will”.
âWe can write a comprehensive will to preserve, protect, control and finally distribute the assets. It’s called estate planning, âChong said.
Plus, a will helps avoid disputes and reduces the hassle of distributing property.
Chong will also discuss inheritance rights and processes and the potential risks of intestate succession. The intestate is the condition of the estate of a person who dies without having made a valid will or other enforceable declaration.
âYou have to be 18 to be of legal age to write a will in Malaysia. As long as you have assets in your name, you should write a will to protect your property and loved ones, âChong added.
Another guest speaker at the forum is real estate investor and author Dr Renesial Leong with the topic âWhy It’s Time You Ventured Into Real Estateâ.
She will share tips on how to avoid common pitfalls and make long-term investments in the real estate market.
StarProperty.my Forum 2018 will be held on March 24 from 9 a.m. to noon at level 2, Cybertorium, Menara Star in Petaling Jaya.
Visit bit.ly/spforum18 for more information or to register.